Oil rises amid skepticism of US-Iran negotiations
Oil prices rebounded on Tuesday after a sharp drop the previous day, as traders doubt an end to the Middle East war is near. AFP The price of a barrel of North Sea Brent, for May delivery, rose 4.55% to $104.49. Its US equivalent, West Texas Intermediate (WTI) barrel for the same month, gained 4.79% to $92.35.
TL;DR
- Oil prices (Brent and WTI) increased on Tuesday.
- Traders are doubtful about an imminent end to the Middle East conflict.
- Iran and Israel exchanged further attacks.
- US President Trump mentioned ongoing negotiations with Iran for a ceasefire, which Iran's parliament president denied.
- Analysts suggest that without cooperation from Iran, US actions may not influence the situation.